In the aftermath of the FTX collapse, the US decided to start testing a CBDC digital dollar for the next 12 weeks. This trial program is initiated by the Federal Reserve Bank of New York and is intended to assess the feasibility of a blockchain-based network for settling liabilities between 9 other enrolled banks.https://www.notebookcheck.net/US-initiates-12-week-test-program-for-digital-dollar-tokens.669102.0.html
This seems pointless. The only hypothetical benefit to crypto is the anonymity it provides. If it's going to be centralized and government-controlled, what's the difference compared to fiat money?
Also, Wells Fargo shouldn't have been included in this. They've already shown they can't be trusted, and now they're being given access to a test program for crypto. Seems like a terrible idea.
Because the real goal is to ban cash money.
EU-RSS is doing the same thing with a digital Euro.
The ultimate goal is social control just like in China, where the state can decide what you buy and when.
You've accepted the vaccination pass ? You will embrace the carbon pass and utlimately, the good citizen pass
You thought you lived in the free world ? Think again.
If this is successful it will bring about an end to commerce in this country.
The government will control every digital account in this country and determine whether you can or cannot buy a product.
Because your account is digital the government can also go in and take money from it as part of the terms and conditions of the account - IF you VIOLATE what THEY say.
Are we reaching the point, or I should say HAVE WE reached the point where, according to some very reliable sources that we will NOT be able to buy or sell without a digital debit card?
NOTHING will be able to be purchased without the APPROVAL of that transaction IF the GOVERNMENT thinks it MIGHT cause descent from them.
According to the constitution you have the right to possess a firearm but with digital currency will the government ALLOW you to own one – will you even be ALLOWED to buy ammunition.
Will they be able to fine your account and AUTOMATICALLY DEDUCT that fine because you said something that you disagreed with them on?
There are so many, many, many detrimental things that can happen to people when the government bans TANGIBLE currency and go totally digital.